Weaker than expected US Markit PMI triggers some profit-taking ahead of the weekend. German business confidence tumbled, while EU data continues to indicate weak growth, Valeria Bednarik from FXStreet reports. Key quotes “The German manufacturing index rose to 47.8, better than the previous 45.3, although services output contracted to 53.3. The EU indexes were a bit more encouraging, as both beat the market’s forecasts. However, inflation in the Union was confirmed at 1.4% YoY in January. The numbers reflect the fragility of the EU’s economy.” “On a downward trend now, the Markit estimates of February preliminary PMI missed the market’s expectations. The manufacturing index came in at 50.8 while services output fell into contraction territory down to 49.4 from 53.4.” “The upcoming week will bring Q4 GDP revisions for Germany and the US. On Monday, Germany will release the IFO Business Climate index for February, foreseen at 96 from the previous 95.9. German will also publish the last version of January inflation while the Union will unveil February Consumer Confidence. “The US macroeconomic calendar will include Durable Goods Orders scheduled for Thursday and seen down by -1.5% and the January Core PCE Price Index, Fed’s favourite inflation measure, previously at 1.6%.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. FXStreet News share Read Next Bitcoin Weekly Forecast: BTC bulls plot the revenge FX Street 2 years Weaker than expected US Markit PMI triggers some profit-taking ahead of the weekend. German business confidence tumbled, while EU data continues to indicate weak growth, Valeria Bednarik from FXStreet reports. Key quotes “The German manufacturing index rose to 47.8, better than the previous 45.3, although services output contracted to 53.3. The EU indexes were a bit more encouraging, as both beat the market’s forecasts. However, inflation in the Union was confirmed at 1.4% YoY in January. The numbers reflect the fragility of the EU’s economy.” “On a downward trend now, the Markit estimates of February preliminary PMI missed the market’s… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
